Over 600,000 new cryptocurrencies have been created in 2026, most of which are only for testing ideas or gaining short-term attention.

ChainCatcher News, according to Finbold, reports that based on CoinMarketCap data, as of January 12, 2026, the total number of cryptocurrencies tracked is 29.91 million. This is an increase of approximately 620,000 assets from 29.29 million on January 1. In the past 30 days, over 1.57 million new cryptocurrencies have been added, with 357,773 added in just the past 7 days.

The report states that launching a new token is low-cost and requires no coding tools, usually just a wallet and minimal transaction fees. Many tokens are created to test ideas or attract short-term attention rather than build long-term infrastructure, which drives up the total number of tokens. However, most assets experience a sharp price decline shortly after launch or fail due to lack of liquidity, poor utility, or waning interest.